(Journal entries using classifications of net assets)

The Mon Elisa Museum of Fine Arts is an NFPO that derives most of its resources from wealthy patrons. Mon Elisa has recently changed its accounting system to eliminate the use of separate funds. All journal entries are made so as to indicate which of the three net asset classifications are affected. The following transactions and events occurred during 2004:

1. Cash of $\$ 40,000$ was received from donors, who stated that it may be used for any purpose desired by the museum.

2. A donor gave the museum $\$ 10,000$, stipulating that the money may be used only to acquire fine examples of Weller Dickensware pottery.

3. Elias Gotbucks sent Mon Elisa a letter, stating he would donate $\$ 15,000$ to the museum to purchase examples of Sara Dawn's quilt work, provided the museum conducted a special campaign that raised at least $\$ 25,000$ to buy additional examples.

4. The museum spent $\$ 4,000$ to acquire a fine Weller Dickensware vase. (Assume that Mon Elisa capitalizes its art collections.)

5. Mon Elisa contacted wealthy patrons to raise funds to buy Sara Dawn's quilt work. It obtained $\$ 30,000$ in pledges, all likely to be paid. Mon Elisa then wrote to Elias Gotbucks, advising him it had raised $\$ 30,000$.
6. Attorney Ted Floot donated his services to the museum. He spent 4 hours on museum legal matters and 3 hours as a salesperson in the museum shop. Ted bills $\$ 250$ an hour when he works as an attorney.
7. A wealthy patron donated "The Portrait of Samantha," which had a fair value of $\$ 6,000$, to the museum. The museum accepted the gift with the understanding that it would be sold at auction and the proceeds used for any purpose the museum wished.
Required: Prepare journal entries for these transactions and events and identify the affected classification of net assets.